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    QuickBooks 1099 Wizard

    Article ID: 1002598

    Overview

    If you have paid contractors in the past year and use QuickBooks 2012 or higher, the 1099 Wizard will help you in filing your 1099-MISC forms easier and less time-consuming.

    You will be able to prepare, review, and file all the required copies of your 1099-MISC forms as well as your form 1096 for the IRS in a few simple steps.

    Details

    The services (including 1099 E-File Service) and support for QuickBooks 2011 will be discontinued on May 31, 2014.

    To access the 1099 Wizard, click Vendors > Print/E-file 1099s > 1099 Wizard.

    Select 1099 vendors

    This list is pulled from the Vendor List.  Select the vendors that need Form 1099-MISC, and click Continue.

    IMPORTANT!
    Changing the selections here also changes the vendors' 1099 status in your company file.

    Verify Vendors

    The information you see will be used for 1099s. Values can be edited by double-clicking within a table cell. Click Continue to proceed.

    Map Accounts

    Amounts will only be included for reporting if they're mapped to boxes.  To map accounts or omit payments from 1099, select from the Apply payments to this 1099 box dropdown list. Select Report all payments in Box 7 checkbox if applicable.  Click Continue to proceed.

    If you see a message in red that your settings do not match the current IRS thresholds:
    1. Click on the hyperlink to Show IRS 1099-MISC filing thresholds.
    2. Click on Reset to IRS Thresholds button.

    Review Payments

    Due to the 2011 compliance update,the IRS requires you to exclude any payments made by credit card, debit card, gift card, or PayPal from being reported on Form 1099-MISC.

    Click View Included Payments and then View Excluded Payments to review the QuickBooks report of which amounts are included and excluded. For more information, see Marking payments for exclusion from Form 1099-MISC. Click Continue to proceed.

    Confirm Entries

    Review the summary of vendors and the amounts being reported. This is the data that will be printed or sent to the 1099 E-File application. Note that amounts in the Total Unmapped Payments column will not be included on 1099s. This may be correct, but it may also indicate that accounts are not mapped properly to 1099 boxes. Click Continue to proceed.

    Choose Filing

    With the print option, you can easily print your 1099s and 1096 on pre-printed forms and file by mail. If you need pre-printed forms, you can purchase them directly from Intuit. NOTE: The IRS does not accept forms on plain paper. Also, QuickBooks only prints the vendor data and not the actual form.

    Another option is e-file. The Intuit 1099 e-file service allows you to file electronically with the IRS and print form copies on plain paper, if desired (additional fees apply). Learn more about the Intuit 1099 e-file service.

    5 comments

    Audrey4/1/2013

    01

    Hi,

    I can not find the sync manager icon. How do I set it up?

    Reply

    Elena2/8/2013

    How can I print 1099s for the recepients on a blank paper (not perforated)?

    Reply

    Kriz2/18/2013

    Hi Elena,

    I'm from Intuit and I saw your comment. I found on Publication 1179 that IRS has set specifications for tax form substitutes. According to this Publication, IRS does not accept 1099 forms printed on blank paper as it does not meet the standards of a substitute for the said form.

    If you don't have any intention of submitting the form to IRS, you may use a blank paper however QuickBooks only prints the vendor information and does not include the actual form. I have update the article with this information.

    I hope this answers your question. Thank you for posting a comment!

    Amy3/6/2013

    Hi Kris, This link from INTUIT says that if you are efiling the 1099's you can print on plain paper to give to contractor, as well as no 1096 needed. So you seem to contradict the Intuit information. So, is Intuit wrong or the IRS? Thanks, http://payroll.intuit.com/support/kb/2000864.html

    Reply

    Kriz3/12/2013

    Hi Amy,

    I apologize if I was not clear with my previous answer. You may print the 1099 on plain paper to give to your contractor if you have already e-filed the form. You are also correct that there is no need to submit a 1096 if the 1099 has already been e-filed.

    However, if the 1099 forms will be printed and mailed to IRS, it should be printed on the 1099 pre-printed form or an IRS approved substitute. 1096 would also be required for this type of filing method. Also, QuickBooks only prints the vendor data and not the actual form, so a pre-printed form would be necessary if the 1099 and 1096 is printed from QuickBooks.

    I hope this clears out the confusion. Thank you for posting a comment!

    Comments can not be added at this time.

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